The saudi arabia LED lights market exhibited strong growth during 2015-2020 and expects the market to reach a value of SAR 8,907 Million by 2026.
Sheridan, United States - August 5, 2021 /MarketersMedia/ —
According to the latest report by IMARC Group, titled “Saudi Arabia LED Lights Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the saudi arabia LED lights market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to reach a value of SAR 8,907 Million by 2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A light-emitting diode (LED) refers to a cost- and energy-efficient lighting device that emits light when the electric current passes through it. LED lighting products offer compact size, low heat output, high durability, minimum radiation emission, and consume less power. These lights are more efficient in comparison to other light bulbs, due to which incandescent and fluorescent bulbs are rapidly being replaced by LED lighting systems.
The escalating demand for the energy-efficient lighting system, along with a significant decline in the price of LEDs, is primarily driving the Saudi Arabia LED market. Furthermore, the growing environmental concerns have encouraged the use of LED lighting products for reducing the carbon emissions from conventional fluorescent lights. Moreover, the rising usage of LED lights in automotive, signal and signage, mobile devices, etc., is augmenting the market growth. Additionally, the increasing demand for LEDs in architectural lighting across both the commercial and residential sectors is expected to further bolster the Saudi Arabia LED market in the coming years.
Saudi Arabia LED Lights Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the saudi arabia led lights market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the saudi arabia led lights market on the basis of product type, application and Import and Domestic Manufacturing.
Breakup by Product Type:
LED Panel Lights
LED Downlights
LED Street Lights
Others
Breakup by Application:
Commercial
Industrial
Residential
Others
Breakup by Import and Domestic Manufacturing:
Import
Domestic Manufacturing
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/saudi-arabia-led-lights-market
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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Source: MarketersMedia
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